Maturity: ₹1,07,71,359 at 7.5% p.a. Interest earned: ₹7,71,359. Senior citizen maturity: ₹1,07,97,816.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹1 Crore Fixed Deposit in Mahindra Finance for 1 Year at 7.5% p.a. (quarterly compounding) will mature to ₹1,07,71,359. You earn ₹7,71,359 as interest, giving a total return of 7.7% on your investment.
At 7.5% p.a. (quarterly compounding), ₹1 Crore FD in Mahindra Finance for 1 Year matures to ₹1,07,71,359. Interest earned: ₹7,71,359. Senior citizen maturity: ₹1,07,97,816 at 7.75%.
Mahindra Finance offers 7.5% p.a. for general citizens and 7.75% p.a. for senior citizens on 1 Year Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹1 Crore at 7.5% for 1 Year, you would earn approximately ₹7,71,359 as interest, making total maturity ₹1,07,71,359. Senior citizens earn ₹7,97,816 at 7.75%.
Yes, premature withdrawal is allowed. Mahindra Finance's policy: Allowed after 3 months with penalty. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. NBFC FDs typically offer higher rates but without DICGC insurance. Consider both rate and safety.